Cayman's position as the world's top specialised
financial centre was reconfirmed again this week with the news that
this jurisdiction has come first in a leading international survey,
topping the specialised financial centres ranking, as compiled by
The Banker magazine. This is the sixth consecutive year that the
Cayman Islands has led the field in this highly-regarded, global
Cayman Finance CEO Gonzalo Jalles Cayman said this is one survey
of which Cayman's financial services industry takes serious
"While there are many surveys carried out on financial
centres periodically, The Banker, as part of The Financial Times
Group, always speaks with authority and as a result, its survey is
one of the most highly respected and one which we anticipate with
interest annually. In this way the fact that the Cayman Islands has
retained its top spot for six years running as the world's top
specialised financial centre has far greater validity and
importance for the industry as a whole, not just locally, but
globally as well," he said.
The Banker magazine is part of the Financial Times Group, a
globally recognised and respected finance publication and its IFC
rankings are based on data ranging from financial markets
indicators to economic potential to business environment factors.
The ranking focuses on the level of international business and the
value for institutions seeking to expand their international
Wayne Panton, Minister of Financial Services, Commerce &
Environment, thanked Cayman Finance for coordinating the submission
to the publication and said that the accolade is another testament
to the strength of Cayman's professional infrastructure and the
quality of service provided: "The Cayman Islands financial
service industry prides itself on its ability to service its
clients with the highest level of professionalism," he said.
"The industry, working in partnership with the Cayman Islands
Government, is nimble in its ability to service market needs, and
this collaborative approach, coupled with service excellence, has
fared the jurisdiction extremely well over the years," he
Mr Panton noted specifically that one of the criteria in
compiling the data is the economic potential of the
"Retrospectively, the honour of coming first in this survey
in itself underscores the value the Cayman Islands financial
services industry has for the global economy as a whole; but, even
more importantly, the survey highlights the fact that this industry
has even greater potential to continue to add value to this
jurisdiction in the years to come," Minister Panton
Of the specialised financial centres, the Cayman Islands retains
its lead, followed by Jersey, Guernsey and the Bahamas. Mauritius
climbed one place to fifth.
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